Did Cathie Wood Sell Circle Stock Too Soon?
Ark Invest sold shares of the hot IPO three times last week.
Widely followed growth investor Cathie Wood added to several of her existing positions on Friday. Countering those purchases, the founder, CEO, and chief investment officer at Ark Invest only lightened one of her stakes across three of her most popular exchange-traded funds (ETFs): She sold a chunk of her shares in Circle Internet Group (NYSE: CRCL).
It was the lone sell for Ark Innovation ETF (NYSEMKT: ARKK), Wood's largest aggressive growth fund with more than $5.5 billion in assets. It was also the only sell order executed for two of her smaller ETFs.
Why is Ark Invest selling off a piece of a position she bought into just earlier this month? Is this the right call? What exactly is Circle Internet Group? Let's tackle some of these questions.
